First Trust Advisors LP Has $214.27 Million Position in Ameriprise Financial, Inc. (NYSE:AMP)

First Trust Advisors LP increased its holdings in Ameriprise Financial, Inc. (NYSE:AMPFree Report) by 1,001.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 564,110 shares of the financial services provider’s stock after purchasing an additional 512,884 shares during the period. First Trust Advisors LP’s holdings in Ameriprise Financial were worth $214,266,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Meeder Advisory Services Inc. lifted its holdings in shares of Ameriprise Financial by 1.1% during the fourth quarter. Meeder Advisory Services Inc. now owns 2,969 shares of the financial services provider’s stock valued at $1,128,000 after acquiring an additional 31 shares during the period. Fidelis Capital Partners LLC increased its position in Ameriprise Financial by 5.1% in the 4th quarter. Fidelis Capital Partners LLC now owns 656 shares of the financial services provider’s stock valued at $249,000 after acquiring an additional 32 shares in the last quarter. Signaturefd LLC raised its stake in shares of Ameriprise Financial by 1.4% in the fourth quarter. Signaturefd LLC now owns 2,270 shares of the financial services provider’s stock worth $862,000 after acquiring an additional 32 shares during the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of Ameriprise Financial by 1.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 2,176 shares of the financial services provider’s stock worth $827,000 after purchasing an additional 33 shares in the last quarter. Finally, CI Investments Inc. grew its stake in shares of Ameriprise Financial by 2.6% during the third quarter. CI Investments Inc. now owns 1,336 shares of the financial services provider’s stock valued at $440,000 after purchasing an additional 34 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP opened at $427.65 on Thursday. The firm’s 50 day simple moving average is $426.52 and its 200 day simple moving average is $401.25. Ameriprise Financial, Inc. has a fifty-two week low of $306.63 and a fifty-two week high of $442.79. The company has a market capitalization of $42.47 billion, a price-to-earnings ratio of 14.56, a P/E/G ratio of 0.72 and a beta of 1.36. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56.

Ameriprise Financial (NYSE:AMPGet Free Report) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, beating the consensus estimate of $8.10 by $0.29. The firm had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.15 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $7.25 earnings per share. As a group, sell-side analysts forecast that Ameriprise Financial, Inc. will post 34.95 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 6th were paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.38%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date was Friday, May 3rd. Ameriprise Financial’s payout ratio is presently 20.15%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Royal Bank of Canada upped their price objective on Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Raymond James initiated coverage on Ameriprise Financial in a research note on Thursday, March 21st. They set a “market perform” rating on the stock. Evercore ISI boosted their price objective on Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. The Goldman Sachs Group upped their target price on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Finally, Argus boosted their price target on shares of Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $450.88.

Read Our Latest Report on AMP

Insider Buying and Selling

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $438.07, for a total value of $657,105.00. Following the transaction, the director now owns 11,000 shares of the company’s stock, valued at $4,818,770. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $438.07, for a total value of $657,105.00. Following the sale, the director now owns 11,000 shares of the company’s stock, valued at approximately $4,818,770. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gumer Alvero sold 1,652 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total value of $721,924.00. Following the transaction, the insider now directly owns 6,994 shares of the company’s stock, valued at $3,056,378. The disclosure for this sale can be found here. In the last three months, insiders sold 3,376 shares of company stock valued at $1,476,274. 0.73% of the stock is owned by corporate insiders.

About Ameriprise Financial

(Free Report)

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.

Featured Articles

Want to see what other hedge funds are holding AMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ameriprise Financial, Inc. (NYSE:AMPFree Report).

Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

Receive News & Ratings for Ameriprise Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameriprise Financial and related companies with MarketBeat.com's FREE daily email newsletter.